Oil theft: New Nigeria Foundation demands urgent intervention

A non-governmental organisation, New Nigerian Foundation (NNF), has called on stakeholders in the oil and gas sector, the Federal Government as well as the media to work towards curbing the menace of oil theft in the country. The foundation, while lamenting the security costs, environmental damage and loss of investments in the Niger Delta region as a consequence of oil theft, revealed that an estimated $55 billion dollars had been lost to the sabotage over the last decade. According to OilPrice.com, Nigeria ranked Number 1 in the top five countries…

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